Fairfield Geotechnologies and Ikon Science have signed a joint venture (JV) agreement to provide geoprediction services to the oil and gas industry in North America.

Reservoir Characterisation - RD4D - Ji-Fi - Co-Viz - Integrated

Image: Ikon Science is a geoprediction software company. Photo: courtesy of Ikon Science.

The move coincides with Fairfield Geotechnologies’ official rebranding and reflects its broad growth strategy of focused investments in its core businesses, along with strategic alliances and acquisitions where possible.

The joint venture leverages Ikon Science’s industry-leading geoprediction technology, which includes innovative workflows for unconventional and conventional reservoirs and award-winning RokDoc Ji-Fi inversion software, with Fairfield Geotechnologies’ seismic acquisition, processing and multi-client data library.

Together, the two companies will be able to offer their clients customized, high-quality geotechnical solutions designed for comprehensive reservoir characterization.

Fairfield Geotechnologies CEO Charles (Chuck) Davison said: “The core capabilities and synergies of both companies are well matched.

“The JV with Ikon represents our commitment to providing our clients with best-in class data, services and solutions for reservoir management, risk reduction and increased productivity.”

Ikon Science’s Mark Bashforth said: “This coupling of data and technology delivers a streamlined best of breed solution to our clients, the goal being to maximize the value from the data they acquire and use an understanding of the geology to manage reservoirs with precision.’’

Source: Company Press Release